![]() ![]() The net worth of these three mega-billionaires is about as much as the $500 billion in total state and local budget shortfalls projected over the next two years due to the pandemic and resulting recession. And the triad of Earth’s richest people- Musk, Bezos, and Microsoft founder Bill Gates-are collectively worth almost half of a trillion dollars ($493.4 billion). Musk’s burst of billions over the past 10 months has been pure gain.ĭespite losing the top spot on the wealth list, Bezos is hardly a figure of pity: his wealth has skyrocketed $71 billion to $184 billion since March. He was worth about the same in March 2019 ($22.3 billion) as in March 2020. Musk’s immense growth in wealth is not simply a retrieval of money lost in the market plunge of February 2020 that anticipated the pandemic and resulting economic lockdown. Musk’s wealth increase of $163 billion since March is nearly equal to the $166 billion cost of the $600 stimulus checks in the latest COVID-aid package, which will be paid to upwards of 150 million Americans. However, Musk’s wealth growth has been especially stunning: he was worth “only” $24.6 billion on March 18, 2020, the rough start to the pandemic. The fortunes of America’s billionaires as a whole have soared during the pandemic even as working Americans have struggled to stay employed, healthy, housed, and fed. Since March, Musk’s wealth has grown almost seven-fold, up a staggering $163.1 billion. Elon Musk, the billionaire CEO of Tesla and SpaceX, is now the richest person in the world, surpassing former titleholder and Amazon chief Jeff Bezos with a net worth of $189.7 billion, according to Forbes’s real-time billionaire net-worth estimates on Jan.
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